China should actively and steadily......>

CHINA PRESS: China should actively and steadily promote the internationalization

of the yuan, boost overseas investors' confidence in holding and using it, as

well as prevent risks amid the opening-up, Pan Gongsheng, deputy governor of the

PBOC and director of the State Administration of Foreign Exchange, wrote in a

PBOC-owned magazine China Finance on Tuesday. The internationalization of the

yuan should be market-driven, and the PBOC should gradually expand the

currency's role in cross-border investment, financial market transactions and

reserves, and continue to liberalize interest rates and reform the foreign

exchange market, said Pan. The PBOC should also guide the healthy development of

the offshore yuan market and improve macro-prudential management, Pan said.